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DOW Theory ! XAU ! 10/14 uptrendXAU / USD trend forecast October 14, 2024 Gold price (XAU/USD) rises for the third consecutive day on Monday, reaching over $2,667, a one-week high in early European trading. Expectations of further Federal Reserve rate cuts due to a favorable inflation outlook drive demand for the non-yielding metal. Additionally, growing geopolitical tensions in the Middle East provide extra support for the safe-haven asset. Gold price M30 frame shows signs of breaking DOW uptrend - waiting for old peak resistance zone 2685 /// SELL XAU : zone 2683-2686 SL: 2691 TP: 50 - 100 - 300 pips (2656) Safe and profitable trading
OANDA:XAUUSDLong
by Moon-ForexAcademy
1
Gold May Rise to 2675.00 - 2685.00 (READ DESCRIPTION)Gold May Rise to 2675.00 - 2685.00 Pivot Point: 2643.00 The pivot at 2643.00 is a key support level. As long as the price stays above this level, the bullish trend is favored. Primary Strategy (Our Preference): Entry Point: Long positions as long as the price remains above 2643.00. Target Levels: 2675.00: The first upside target, marking a continuation of the bullish trend. 2685.00: A higher target, representing an extended move higher. Alternative Scenario: If the price drops below 2643.00, look for a bearish turn. Entry Point: Below 2643.00, initiate short positions. Target Levels: 2636.00: The first downside target if the pivot is broken. 2628.00: The next support level, indicating further potential downside. Technical Outlook: RSI Indicator: The RSI is bullish, indicating strong upward momentum and supporting the continuation of the current trend. MACD Indicator: Although not mentioned here, the bullish trend is reinforced by momentum indicators like the RSI. Moving Averages: The price is expected to be above its key moving averages, signaling further upside potential. Market Dynamics: A sustained move above 2643.00 keeps the focus on the upside targets of 2675.00 and 2685.00. A break below the pivot at 2643.00 would shift focus to the downside targets of 2636.00 and 2628.00.
OANDA:XAUUSD
by CharivapaAlgo
Break ! Gold recovered unexpectedly after CPI news⭐️Smart investment, Strong finance ⭐️GOLDEN INFORMATION: Gold prices regained some ground on Thursday, rising 0.67% during the North American session following a hotter-than-expected US inflation report, balanced by weaker jobs data. However, hawkish remarks from a Federal Reserve (Fed) official limited gold’s gains. XAU/USD is trading at $2,624, rebounding from a daily low of $2,603. While US inflation for August was slightly higher than anticipated, soft job data provided some relief. The US Department of Labor reported more unemployment claims than expected, raising the possibility of more aggressive Fed rate cuts. ⭐️Personal comments NOVA: Gold price creates CHOCH in H1 frame - structural change from decreasing to increasing. Gold price recovered. Pay attention to the resistance zones: 2652, 2668 ⭐️SET UP GOLD PRICE: 🔥BUY GOLD zone: $2628 - $2626 SL $2623 scalping TP1: $2634 TP2: $2640 TP3: $2650 🔥BUY GOLD zone: $2605 - $2603 SL $2598 TP1: $2615 TP2: $2622 TP3: $2633 🔥SELL GOLD zone: $2668 - $2670 SL $2675 TP1: $2660 TP2: $2650 TP3: $2640 ⭐️Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable SELL order. ⭐️NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDLong
by Nova-Scalper
2
XAUUSD: Can the rebound last? Where to enterYesterday, when most people in the market were still bearish, I clearly pointed out that gold had a bottom divergence pattern and bought in the 2605-2615 area. Friends who followed the copy signal made a lot of profit! The most important data this week are yesterday's CPI and initial jobless claims data. Among them, the CPI data all exceeded expectations. The data did not meet expectations, which was bearish at first glance, but you can analyze it yourself. You can compare the previous value with the published value, which is bullish for gold. In addition, the number of initial and continued unemployment claims rose sharply at the same time, reflecting the signs of weakness in the US job market. The trend of gold prices also fell to the 2605 support level after the data was released, and then rose rapidly. The current highest price is 2647 US dollars. From the chart, the current support area is in the 2624-2630 area, and the upper resistance is near 2653, which is also the 0.618 position of the Fibonacci retracement. Now the price is running at 2637. When the price runs between the support and resistance, everyone knows that I will not participate because the risk is relatively large. Therefore, today I will give you two options for your reference, and I will implement them when the time comes. The first option is to wait for a pullback to the 2624-2630 support area and buy bullishly. The upper target is 2640-2645 first, followed by 2660-2670 The second option is to choose to short near 2653, with the target of 2630-2624, followed by 2605 Whichever one arrives first, I will resolutely implement it, and I think the possibility of the second one is not great, so I am more optimistic about the first option, and what about you?
TVC:GOLDLong
by AntonyTP
4
Gold Price Rally Continues: The Safe Haven InvestmentGold prices have been experiencing a consistent upward trend. This move has further solidified gold's position as a sought-after investment, particularly during economic uncertainty. As prices continue to hit new records, the yellow metal remains an attractive asset for investors seeking both security and potential returns. The allure of gold as a safe-haven investment is well-established. In periods of market volatility or economic turmoil, investors often turn to gold as a hedge against inflation and currency devaluation. Its physical nature, unlike stocks or bonds, provides a tangible asset that can be held onto during times of crisis. Additionally, gold's limited supply and increasing demand from emerging markets have contributed to its upward price trend. Beyond its role as a haven, gold has also been gaining popularity as an investment asset. Many investors view gold as a long-term store of value, believing that its price will appreciate over time. While there are periods of volatility, the overall trend has been upward, particularly in recent years. Gold can also be a diversifier in an investment portfolio, helping reduce overall risk. The continued rise in gold prices has also spurred interest in gold-backed investments. Exchange-traded funds (ETFs) that track the price of gold have become increasingly popular, offering investors a convenient and liquid way to invest in the precious metal. These ETFs can be bought and sold on stock exchanges, making them accessible to more investors. However, it's important to note that investing in gold is not without its risks. While gold has historically been a good hedge against inflation, there are no guarantees of future price appreciation. Economic conditions, geopolitical events, and changes in investor sentiment can all impact the price of gold. Investors need to do their research and consider their risk tolerance before making any investment decisions. In conclusion, gold continues to be a highly sought-after investment asset. Its reputation as a safe haven, coupled with recent price increases and the reduction in customs rates, has made it even more appealing to investors. Whether as a hedge against inflation, a long-term store of value, or a diversifier in an investment portfolio, gold offers a unique set of benefits. However, it's important to approach gold investing with a long-term perspective and a thorough understanding of the risks involved.
OANDA:XAUUSD
by bryandowningqln
Gold has a bottom divergence, buy at the low todayThe US dollar continued to rise this week and has now risen to a two-month high. Gold also fell for the sixth consecutive trading day yesterday, and the lowest point of 2605 was tested many times, but it still did not fall below. Therefore, from the current trend, it is not possible to continue to short, because the support of the 2605 line is very strong, and after the precipitation of the past few days, the short-selling force has also weakened a lot. At the same time, it can be seen from the figure that the price trend is falling, but the MACD indicator is continuing to strengthen, which obviously forms a bottom divergence pattern, which is a bullish signal. From the 1H chart, the upper suppression point is in the 2630-2640 area, and the lower support is 2605-2615. So today's trading strategy is to buy in the support area and target the upper resistance area
TVC:GOLDLong
by AntonyTP
CPI signal On the flip side, the trading range support breakpoint, around the $2,630-2,635 region, now seems to act as an immediate hurdle. Any further move up could be seen as a selling opportunity and remain capped near the $2,657-2,658 horizontal barrier. A sustained strength beyond the latter could lift the Gold price to the $2,670-$2,672 supply zone, above which bulls might aim to challenge the all-time high, around the $2,685-2,686 zone touched in September. This is closely followed by the $2,700 mark, which if cleared will set the stage for an extension of a well-established multi-month-old uptrenn Gold now buy 2611 Support 2644 Confirm CPI signal Gold price bulls seem non committed as focus remains glued to US CPI report
OANDA:XAUUSDShort
by JohnHarry_7
XAUUSD: Double Top/Head and Shoulders From a broader perspective, gold currently resembles a head and shoulders pattern. However, if we focus on a smaller scale, it appears to be forming a double top. For now, we will base our market analysis on this smaller pattern to guide our trades. Typically, after a double top forms, a rebound often follows. This is one of the primary reasons why I recommended a buy position before yesterday's close. When bullish momentum is strong, the price tends to rebound towards or even above the resistance level. In cases of weaker bullish strength, the rebound peak may fall below or only reach the resistance level. Given the current state of the market, the bulls still hold decent power, making it likely that the rebound will test or even surpass the resistance zone around 2629-2638. This area can be considered as a potential exit point for long positions and an ideal entry point for shorts. For short positions, the initial target can be around 2596, which was a previous resistance level during the uptrend. The mid-term target aligns with the low formed during the left shoulder of the head and shoulders pattern, around 2558. The final target would be near 2518, the starting point of the head and shoulders formation. Every trader has their own preferred strategy, but the key is to align with the overall trend. Even if short-term volatility creates challenging situations, staying patient and trusting the broader market direction will lead to success in the end. The process may involve several tests, but perseverance and timing are crucial.
OANDA:XAUUSDShort
by Mia-Signal
Gold 2630-2638 Range Is Good For Shorting After a significant rally, gold has finally retraced to the 2600 level. If you’ve been following my recent analysis, you should have already taken advantage of this move. Yesterday, my strategy was to short at 2648, closing near 2618, while recommending a long position near 2610 with a target range of 2620-2628. This approach played out perfectly, securing notable profits. Gold is now hovering around the MA20, where resistance is expected to be minor. The key resistance zone lies between 2632-2638, close to the MA60. While it may not reach this level, the current rebound is not over yet. If it reaches the MA60 region, it will present an ideal shorting opportunity with at least $10 of downside potential. Successful trading always relies on strong signals—don’t you agree?
FOREXCOM:XAUUSDShort
by Wealth_Waves
sideway and accumulation! XAU! 10/8XAU / USD trend forecast October 8, 2024 Gold prices dipped during Monday's North American session, trading between $2,630 and $2,659, as rising US Treasury yields limited gains. However, the intensifying conflict in the Middle East prevented further declines. XAU/USD is at $2,645, down 0.30%. Market sentiment worsened due to ongoing violence, with Israel expanding ground operations in Lebanon and Hamas firing rockets at Tel Aviv. Ceasefire hopes diminished as groups like the Houthis also attacked ships in the Red Sea, escalating the conflict. The price range of 2625-2685 is almost awaited by investors to wait for the next interest rate information, the longer the accumulation, the stronger the gold price fluctuates. Sideway will continue today. /// BUY XAU : zone 2624-2627 SL: 2619 TP: 50 - 100 - 200 pips (2644) Safe and profitable trading
OANDA:XAUUSDLong
by Moon-ForexAcademy
1
Gold anchors at peak, experts neutral on gold prices this weekCome up with ideas and wave trends for today, 10/7, 2024. In my opinion, tomorrow there will be a short-term wave during the day that pushes the price up to the 2662 zone, so tomorrow you can watch for the correction wave and then watch for Buy. To watch for Buy at this wave, pay attention to the price zone of 2650 - 2647. Here, find the Buy factor, SL below the foot of the previous small wave. Because the price is within the Wyckoff boundary of the value zone, last week you can see that all your entries and trends are only within the boundary. Do not go too far to avoid the case where the entry is finished and the price goes sideways and then returns to liquidity to sweep the entry. Longer-term views from the 30-50 price range will be established when the price breaks out of the Wyckoff boundary when forming the cause and returning the result. Here, I can click and calculate the P&F of the target price to find, so avoid trading with high expectations and over-predictions. Finally, all transactions must always comply with capital management and SL. This is The most important thing that the channel always tells you is to not get too excited when you win and when SL loses, feel lucky because you lose only a part of your account, so that your mentality is comfortable and you are not afraid of losing or holding on to negative too much. --- Jesse Colombo, an independent precious metals analyst and founder of BubbleBubble Report, believes that the price of this precious metal will trade in the range of 2,650-2,700 USD/ounce and notes that investors can buy when the price drops. 16 Wall Street experts participated in the latest Kitco News Gold Survey. Of which, 7 experts (equivalent to 44%) said that gold prices will increase this week. 3 experts (19%) predicted that gold prices will decrease. The remaining 6 (37%) believe that gold will trade sideways. In addition, 104 retail investors, or 59%, of the 176 Main Street investors surveyed expect gold to continue its upward trend. Another 36, or 20.5%, said the yellow metal would trade lower, and the remaining 38, or 20.5%, were neutral on gold prices this week.
OANDA:XAUUSD
by TheLeader_WOLF
XAU/USD getting ready for another rally?Gold appears to be generating significant liquidity, suggesting a potential setup for another rally to the upside. We’re seeing liquidity engineering, which points toward the possibility of gold making a push to retest all-time highs. I’m watching for a chance to capitalize on this move. There’s a 1-hour demand zone just below a pool of liquidity that has recently triggered a change of character (CHOCH) to the upside. I’ll be looking for price to mitigate that demand zone before taking liquidity higher. Confluences for Gold Buys: - Gold is consolidating, likely preparing for a breakout. - Trendline liquidity to the upside still needs to be taken. - The 1-hour demand zone has caused a CHOCH to the upside. - Gold remains bullish, aligning with the overall trend. - The US Dollar Index (DXY) is showing signs of bearishness from its supply zone, supporting the bullish outlook for gold. Note: If price continues to drop and fails to hold at the 1-hour demand zone, I’ll anticipate it to fill the imbalance below and mitigate the 10-hour demand zone. This area is another point of interest where a potential bullish rally for gold could form.
OANDA:XAUUSDLong
by Hassan_fx
XAU continues sideways - accumulate waiting for new ATH 2705 ✍️ NOVA hello everyone, Let's comment on gold price next week from 10/07 - 10/11/2024 🔥 World situation: Gold prices pulled back after a stronger-than-expected US jobs report suggested that the labor market remains robust, indicating the Federal Reserve (Fed) may ease policy in smaller 25-basis-point increments. Currently, XAU/USD is trading at $2,643, down 0.40%. The US Bureau of Labor Statistics (BLS) reported strong job growth for September, easing concerns about the labor market. This reduced pressure on the Fed, which had previously cut interest rates by 0.50% in September amid concerns about reaching its maximum employment goal. 🔥 Identify: Gold price is sideways - accumulating in a large range of 2625 - 2681. The uptrend on the H4 frame is still stable and waiting for new momentum to reach the next new ATH. In the context of escalating Middle East tensions - gold price continues to increase strongly this year. 🔥 Technically: Based on the resistance and support areas of the gold price according to the H4 frame, NOVA identifies the important key areas as follows: Resistance: $2671, $2685, $2705 Support : $2626, 2588 🔥 NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDLong
by Nova-Scalper
1
Gold Nearing Major Support at 2667 - Bullish ReversalGold is approaching a crucial support level at 2667 on the 4-hour chart, signaling a potential bullish reversal. This level holds significant importance due to its confluence with technical indicators that suggest a possible upward move. Let’s break down the key elements of the current setup: 2667 is a well-established major support level where buyers have historically stepped in, making it a critical zone to watch. RSI (Relative Strength Index) has crossed above 50 multiple times, which is a strong signal of increasing bullish momentum. This suggests that, despite recent price consolidation, there is underlying strength in the market. The fact that RSI is sustaining above the midline indicates that the market sentiment is shifting towards bullishness. On the 4-hour chart, the most recent candle formed a Hammer, a classic bullish reversal pattern. This suggests that the market is rejecting lower prices, with buyers defending the support level. Gold closed the weekend at 2667.80, sitting right on this major support level, further confirming the importance of this zone. All these technical indicators point towards a potential bullish setup for Gold, with the RSI's multiple crossings above 50 strengthening the case for upside movement. If the price bounces from this support, we could see a rally in the near term. However, it's essential to recognize that Gold's price action is also influenced by global events, particularly geopolitical tensions such as the Russia-Ukraine conflict and unrest in the Middle East. These developments could introduce volatility and sudden shifts in sentiment. Traders should closely monitor price behavior around the 2667 support level and look for further confirmations of a bullish reversal, such as continued RSI strength, bullish candlestick formations, and breaks above resistance levels. If the support holds and these signals align, Gold could be poised for a significant upward move. However, a failure to maintain this level may lead to further downside, so caution is advised. Stay updated on global events, as they can heavily impact Gold's trajectory in the days ahead.
COMEX:GC1!Long
by Sudhir-Sirohi
2
BREAK - NF create new ATH 2700 ?⭐️ Smart investment, Strong finance ⭐️ GOLDEN INFORMATION: The US Department of Labor reported a slight rise in unemployment claims to 225K for the week ending September 28, up from 218K. This follows stronger-than-expected private-sector job growth in September and an unexpected increase in job openings in August, signaling a resilient labor market. Additionally, the ISM Non-Manufacturing PMI rose to 54.9 in September, its highest since February 2023, indicating solid economic performance in the third quarter. ⭐️ Personal comments NOVA: Gold price begins to break the downtrend in H1 frame - expect NF to push gold price to continue increasing today ⭐️ SET UP GOLD PRICE: 🔥BUY GOLD zone: $2625 - $2623 SL $2618 TP1: $2632 TP2: $2640 TP3: $2650 🔥SELL GOLD zone: $2698 - $2700 SL $2705 TP1: $2690 TP2: $2680 TP3: $2670 ⭐️ Technical analysis: Based on technical indicators EMA 34, EMA89 and support resistance areas to set up a reasonable BUY order. ⭐️ NOTE: Note: Nova wishes traders to manage their capital well - take the number of lots that match your capital - Takeprofit equal to 4-6% of capital account - Stoplose equal to 2-3% of capital account - The winner is the one who sticks with the market the longest
OANDA:XAUUSDLong
by Nova-Scalper
3